This has been an ongoing discussion on many gaming forums for a long time now.
However these days long after the home computer wars, and now in the next gen console wars which contenders how long since caught up with the PC's hardware capabilities, we see a shift from PC to these.
Far from it. Have you seen the first DirectX 10 graphics cards for the PC? They blow any of the next generation consoles out for the water.
Exactly. A decently spec'd PC blows away the 360 and PS3. My brother has an Xbox360 and he was amazed at me playing FarCry (an "older" game mind you) on my barely mid-level speced PC.